House purchase and remortgaging dynamics in the UK
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9 months ago
Tuesday, May 11, 2010
Mortgage crisis in the UK
Bank of England published a very interesting survey of household financial conditions in the UK. The following graph shows quarterly percentage changes in the house purchase and remortgaging dynamics in the UK between Q2:2007 and Q1:2010. As the graph indicates, there is an excess volatillity in the housing market as a result of loose monetary policy and unpredictable mortgaging changes. Housing markets reflect the instability of the UK economy.
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One remedy to residence foreclosure that is often suggested is to exchange the action of the residence into an individual's name, thereby providing away the liability for the home loan to a third celebration. However, this option simply does not work, causes the property owners to give up useful control of their residence, and is often suggested by dubious residence foreclosure fraud providers. The repercussions of shifting possession during residence foreclosure are nearly always adverse.
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